Bitcoin-Cashout.com - Cash out your cryptocurrency has never been more easily. You can cash out your cryptocurrency to any bank account in the world in minutes. No ID checks, no documents verification required. We do not require any kind of ID or verifications to process your exchange. The single best way to cash out large amounts of Bitcoin is through something called an OTC (over-the-counter) transaction. An OTC transaction occurs when a private buyer and private seller are linked together by an intermediary to facilitate the swap. To sell cryptocurrency: Select Buy / Sell on a web browser or tap on the Coinbase mobile app.

Although Bitcoin is a digital coin that has no physical form, it can certainly be converted to any traditional currency. There are several ways how anyone can do that and this article will bring a brief review on any of them.

However, before cashing out it is necessary to evaluate factors like:

• the number of assets you are going to withdraw;
• the fees of withdrawal;
• the type of account (bank or PayPal) where the transaction will be made to;
• how long will it take for assets to reach the account.
• the local bank taxes and fees, that might be applied depending on the bank or the country.

Yet, when you’ve estimated the factors mentioned above, the final step to do is to choose a method of how you are going to withdraw money from Bitcoin.

How to cash out Bitcoin through the regular exchanges

Since there are dozens of cryptocurrency exchanges online, none of them converts Bitcoins to fiat currencies directly. However, the process can be made safely and transparently by sending funds to the bank or PayPal account.

In order to cash out Bitcoin via an online exchange, you first need to have a valid account on a cryptocurrency exchange such as Coinbase, Bitstamp, or Coinspot. This is what you will need to do:

1. To open an account on cryptocurrency exchange you just need to sign up, verify your account by submitting the required identification documents and link it to your bank or PayPal account.
2. To make a Bitcoin deposit, which at least should be worth $10. Later you could sell your Bitcoins for cash, which then will be sent to your bank account.
3. Withdraw funds to the personal bank or PayPal account. To do this, first choose the withdrawal method from the menu on the withdrawal page.
4. Enter all of the bank account details.
5. Submit the request.

Since most of the cryptocurrency exchanges apply reasonable fees (mainly around 1.5%) for Bitcoin withdrawals, the process of transferring funds to the bank’s SWIFT (USD) or SEPA (EUR) account may last up to 5 business days depending on the country you’re based in.

If you are going to cash out large amounts of Bitcoins, it is worth knowing what limits do the online cryptocurrency exchanges apply. Most of them however apply the limits on amounts that may be withdrawn daily.

Depending on the exchange and on the region the user is located, these limits may vary. Coinbase, for example, allows the daily withdrawal limit up to $10.000. Meanwhile, the withdrawal limit on Binance is 2 Bitcoins per day for the unverified users or 100 Bitcoins for verified users.

Usually, online exchanges provide their users with the possibility to increase the withdrawal limits by upgrading the level of the account.

Cashing out through online exchanges is one of the safest ways to withdraw Bitcoins. If the transfer time and withdrawal fees are not right for you, then you should consider another way of Bitcoin withdrawal.

For Bitcoin holders who prefer a higher level of anonymity when converting Bitcoins to cash, the option of using the peer-to-peer (P2P) cryptocurrency exchange is available.

Contrary to their centralized counterparties, the P2P exchanges like LocalBitcoins or Paxful do not hold Bitcoins for their users. Instead, they connect traders and allow them to make deals privately while staying anonymous.

In order to make a transaction on P2P exchange, users have to follow the simple instructions:

1. To open an account on P2P exchange and verify their ID by submitting the required documents and linking it to the valid bank or PayPal account.
2. To find a reliable buyer. Thus it is important to check up the feedback score and review the comments on another user. Although the decentralized P2P exchanges give more privacy and anonymity, the spot prices of digital assets as well as fees are set by the individual traders. Thus users who want to sell their Bitcoins should evaluate both their possible profits and competitive environment carefully.
3. Make a transaction. The important moment here is to use a P2P exchange that includes escrow service. This means that Bitcoins will be currently locked since the seller confirms he received payment.

Since P2P exchanges support various payment methods, users can choose within bank transfer, gift voucher or PayPal, Skrill, Payoneer, Western Union, or Neteller.

Although Bitcoin is rapidly going its path towards the wider adoption, it still may take time to cash out the world’s leading digital currency. And since the only direct option to convert Bitcoins to fiat is by using Bitcoin ATMs, the amount of them is not enough across the globe to meet the needs of remote users or those who are located elsewhere than in the big cities.

However, there still are ways of how to cash out Bitcoins on regular and P2P exchanges. While both types of exchanges have their own advantages and scarcities, it is important to evaluate personal needs first. The factors like transaction fee, time or type of the account to which the funds will be withdrawn, as well as local laws should be kept in mind before cashing out the benchmark digital currency.

So, you have mined a handful of bitcoins and want to cash them now but are confused about how to do it. There’s nothing to be worried about as we have got you covered. You will get through the whole process of “How to Turn Bitcoin into Cash”. This guide will enlighten you with the methods of how to turn bitcoin into cash or simply how to convert bitcoin to cash. Efficient and safe ways to do this, selling bitcoins, and everything you need to know.

By the end of this guide, you’ll be able to make money and convert bitcoins to cash.

Table of contents:

1. Cashing Out on Crypto Exchanges
   • Coinbase
   • Stormgain
   • Binance
2. Cashing Out on a Peer to Peer Exchange
   • Bitcoin Global
   • Paxful
   • Local Bitcoins
3. FAQs

How to Turn Bitcoin Into Cash?

There are multiple ways that you can convert bitcoin to cash, but the most important thing to look up is to consider “How Long does it take to sell Bitcoin?” your ease and accessibility and the way you are most comfortable with.

To convert bitcoin to cash, next is how you want your money, you can have the money in your bank account directly, or to your PayPal and then withdraw via bank, would you rather buy something with your coins or have them in cash, and finally, how urgent you want to convert these bitcoins to cash.

What are the most popular Bitcoin Cash out Options?

Cashing out bitcoins seems to be a very difficult and technical process by name. But in reality, it is not that difficult, rather a very simple and easy process. At the moment there are multiple methods available and being used to cash out bitcoins. Some of them are easy to use and some are fully equipped tools that give you a whole analysis of the market and helps you to make your choices to sell or hodl your coins and watch them grow.

As per the discussed conditions, there are multiple ways to cash bitcoins, which we call to cash out methods. Some of the most famous and widely used of those are,

1. Cashing Out on Crypto Exchanges

These crypto exchanges work exactly in the same manner that normal cash exchanges work. You are to deposit your coins to one of these exchanges and then you can then request a fiat money withdrawal via bank transfer or an ATM. But you have no idea of who is going to be the counterparty you are trading with.

Some of the most popular third party crypto exchanges are,

1.1.Coinbase

Coinbase is the largest coin exchange with a user base of around 13 million and processing more transactions than any other exchange in a day.

Withdrawal

Coinbase lets you buy and sell your coins in exchange for cash. Which you can then withdraw via bank transfer which is the most convenient way to use to convert bitcoin to.

Transaction time

The time it takes for your coins to be cash that you can withdraw varies as per regions. For example, it takes 2 – 4 business days in the US but not necessarily in India or any other region. You can check your region’s time on their website too.

1.2.Stormgain

Stormgain is a kind of all in one service provider exchange. Stormgain provides a built-in wallet that supports the 6 most popular currencies, to hodl and exchange your coins for trades. It provides the best exchange rates in the market. Stormgain also provides analytics support to the traders daily that help them grow their assets and make lots of money.

Withdrawal

Same as Coinbase, Stormgain also allows you to withdraw your money directly to your bank account and then draw as fiat cash, or you can have it in your PayPal and then draw directly via ATM.

Transaction time

Transaction time depends upon the bank that you are drawing in and the region you are in. On average, it takes around 3 to 5 business days for a transaction to be cleared and available to be cashed.

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1.3.Binance

Binance is a comparatively new but widely accepted exchange that gained vivid popularity in a very short period. As of January 2018, Binance was the biggest crypto to crypto exchange in terms of trading volume.

Withdrawal

Binance provides a direct withdrawal of cash to your bank account or your debit or credit cards, which can then be used as normal fiat money.

Transaction time

Binance bitcoin to cash conversion time is typically a few days and on average, it takes only 3 to 5 business days to get your bitcoins as cash.

Cashing Out on a Peer to Peer Exchange

In contrast to the third party crypto exchanges, peer to peer exchanges do not involve an intermediary in any form. Both the parties involved in the trade are aware of the counterparty and have all their information all the while. This makes the transaction more and clearer for the users and reduces the risk of scams and frauds. But simultaneously, this takes along a risk of privacy and security to the users.

The best thing about these peer to peer exchanges is that they provide many payment methods ranging from banks to monetary service providers like PayPal or Payoneer and even gift vouchers. All you gotta do is post an advertisement to buy or sell your coins. Some of them also provide a user rating system that allows users to have a trust system to evaluate the one they are dealing with.

There are only a handful of peer to peer exchanges that operates in the crypto market, some of which are,

How To Cash Out Bitcoin

1. Bitcoin Global

Bitcoin Global is a global peer to peer crypto trading platform with a mission to pave the way to mass adoption of blockchain technology and expand the crypto community by providing a secure and easy to use peer to peer exchange.

It is really easy and hassle-free to use. All you need to register is an email and you are ready to go. Register on the platform, post an advertisement to sell your coins and convert your bitcoins into cash instantly with secure transactions and with no middleman to rely on.

Convert Cash Into Bitcoin

Bitcoin Global provides state of the art security for a foolproof transaction as, during the trade, it locks the crypto coins into a secure escrow system until the seller confirms the payment from the buyer. In case of any mishap, their 24/7 help centers are there to assist you in the trade.

2. Paxful

Paxful is just 5 years old and changing the way we organize our crypto finances. They are just getting started and have a user base of millions.

Paxful started with a mission to empower the four billion unbanked people, in a way that they are in full control of their money in a way that they never had before.

Paxful is changing the way the world deals with money and embraces cryptocurrencies, allowing transfer from anyone, anywhere, and anytime. They have more than 300 payment methods to choose from when withdrawing your cash. Paxful is truly an example of by the people, for the people.

It also provides a built-in crypto wallet and the most advanced escrow secured system to secure all your trades.

3. LocalBitcoins

LocalBitcoins is a person to person bitcoin trading platform. It hails people from around the globe to engage in the crypto trade and convert bitcoins into cash. LocalBitcoins provides a really simple and sleek interface that leads you to have your cash instantly.

LocalBitcoins is in the market with a mission to connect everyone in the internet economy. They have enabled the underbanked population to hold their finances with nice and efficient management and virtually remove the borders and connect everyone in the world.

The process is simple: just register on the platform, post advertisements to sell your coins, trade and you’ve just converted your bitcoins into cash.

FAQs

Can Bitcoin be converted to real money?

YES! Of course, anyone can convert their bitcoins or any other cryptocurrency into fiat cash using any of the above-mentioned methods. As of context, Bitcoin is real money that is being accepted at many places but is not in common use now and is gaining value and popularity in masses real quick and will be widely accepted soon as a normal mode of transactions.

Should I cash out my bitcoin?

After analysing the price curve of bitcoin it is not the best time to sell your coins as prices are seeing a drop and are expected to rise again soon. If you are selling at a profit you are in a good position otherwise it is not the time to sell but hodl your assets.

The market is expecting a bull run and is recovering from a bearing move by the investors that left many into losses.

There is another method that expert investors use is that they cash out the initial investments that they made on bitcoins and as a move to save the initial capital and leave others to multiply, making a hefty amount in profits and that too a guaranteed profit. No matter what stage the market is at, they are only making profits that double their assets.

How To Cash Out Bitcoin On Blockchain

Moreover, looking in the longer run, bitcoin is one of the best assets to invest in. People who invested cents in bitcoins in the early ’20s are making millions now as the worth of bitcoins increased exponentially with time and left millions to people and is still growing up and high. Considering this, cashing out bitcoins should be the last option.

How To Cash Out Bitcoin Sv

How long does it take to sell bitcoin?

Time duration to sell your coins varies and depends upon,

Mode of the transaction – if you are using a third-party exchange, it will generally take around 3 to 5 business days, considering every requirement is fulfilled. If you are going for a peer to peer exchange this will take more time as you are to wait for a buyer to accept your proposal and negotiate for the best price. And if you are going to sell your coins directly to someone it is going to take only a minute and you will have your cash instantly.

Mode of payment – time required by different platforms to clear your cash varies. Western Union for example takes 2 to 3 business days to process your request. While a bank/wire transfer will get you your cash in an instant.

Exchanging Bitcoin For Dollars

The region you are living in – this has the most impact as many of the countries have banned cryptocurrencies in their premises and are illegal to trade. And if you are in one of them it is going to be illegal for you to deal in bitcoins. Some countries are pro bitcoins and there will be an advantage in dealing with bitcoins as they have made pro-crypto laws that help users to trade easily and efficiently.

Considering all the scenarios it will take you 5 business days at most to convert your bitcoins into cash or a week in the worst case.

Can I cash out Bitcoin to a credit card?

Technically, Yes but the technology is in the developing stage now. Many of the wallets have rolled out the feature to directly cash bitcoins to your credit cards. In order to make the interactions with the wallet more smooth and easy. But, since it is in the developing stage not all the service providers offer this feature and there are only a few options left with multi-level checks that make it a hassle to do this now.

We are soon going to witness these crypto coins and wallets being the most used mode of payments we are doing every day.

Can I cash out Bitcoin to my bank account?

Bitcoins cannot be directly cashed at the banks. To do so you are to use online platforms. These allow you to sell your bitcoins and withdraw funds directly into your bank accounts. Or you can directly sell your coins to someone in exchange for cash via some peer to peer exchange. Or trade with someone who wants to buy bitcoins from you and make the payment in the bank. We have discussed how to sell bitcoins above.